TD Securities Trims Peyto Exploration & Development (TSE:PEY) Target Price to C$18.00

Peyto Exploration & Development (TSE:PEY) had its price objective cut by TD Securities from C$19.00 to C$18.00 in a report issued on Tuesday morning, BayStreet.CA reports.

Several other research analysts have also weighed in on PEY. Scotiabank upgraded shares of Peyto Exploration & Development to a strong-buy rating in a research report on Friday, June 14th. CIBC lowered their target price on shares of Peyto Exploration & Development from C$17.50 to C$17.00 in a research report on Monday, July 15th. Finally, National Bankshares upped their target price on shares of Peyto Exploration & Development from C$18.00 to C$18.50 in a research report on Friday, September 27th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Peyto Exploration & Development has a consensus rating of Buy and an average price target of C$17.50.

Peyto Exploration & Development Trading Down 0.6 %

Shares of Peyto Exploration & Development stock opened at C$16.03 on Tuesday. Peyto Exploration & Development has a 52-week low of C$11.09 and a 52-week high of C$16.30. The company has a quick ratio of 0.32, a current ratio of 1.15 and a debt-to-equity ratio of 50.02. The company’s 50-day simple moving average is C$14.56 and its 200-day simple moving average is C$14.85. The firm has a market cap of C$3.13 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of -0.46 and a beta of 1.76.

Peyto Exploration & Development (TSE:PEY) last issued its earnings results on Tuesday, August 13th. The company reported C$0.26 earnings per share for the quarter, missing the consensus estimate of C$0.27 by C($0.01). Peyto Exploration & Development had a return on equity of 11.86% and a net margin of 32.88%. The company had revenue of C$256.55 million for the quarter, compared to analyst estimates of C$257.10 million. As a group, equities research analysts anticipate that Peyto Exploration & Development will post 2.5599315 earnings per share for the current year.

Peyto Exploration & Development Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.11 dividend. The ex-dividend date is Friday, September 27th. This represents a $1.32 annualized dividend and a dividend yield of 8.23%. Peyto Exploration & Development’s dividend payout ratio is presently 85.16%.

Insider Activity

In other news, Senior Officer Todd Burdick sold 57,810 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of C$14.41, for a total value of C$832,845.55. In related news, Director Jean-Paul Henri Lachance sold 27,200 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of C$14.63, for a total transaction of C$397,936.00. Also, Senior Officer Todd Burdick sold 57,810 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of C$14.41, for a total transaction of C$832,845.55. Over the last ninety days, insiders have acquired 31,775 shares of company stock worth $462,667 and have sold 267,641 shares worth $3,893,311. Company insiders own 2.37% of the company’s stock.

Peyto Exploration & Development Company Profile

Peyto Exploration & Development Corp., an energy company, engages in the exploration, development, and production of natural gas, oil, and natural gas liquids in Deep Basin of Alberta. The company was formerly known as Peyto Energy Trust and changed its name to Peyto Exploration & Development Corp.